Measures to reduce errors in IT project time and cost estimates

This thesis deals with the issue of inaccuracy of time and cost estimates in an information technology project. The aim of the thesis is to propose measures that will lead to a reduction in the error rate of these estimates and thus contribute to an increase in the predictability and success of an IT project. A sub-objective is to identify the key problems of the project. The theoretical part of the thesis deals with the basic principles of project management and projects as such. Furthermore, the roles of different actors and different approaches to project management, including the use of feedback and retrospective methods. The practical part is based on a case study of a specific IT project on which a detailed retrospective was carried out in order to identify the causes of errors and to propose specific corrective measures. Their effectiveness was verified by means of counterfactual analysis and subsequent statistical testing (Shapiro-Wilk test and one-factor analysis of variance ANOVA). The results confirm that the proposed measures led to a statistically significant improvement in the accuracy of the estimates. Thus, the paper provides a practical framework that can be used in the management of other IT projects and can serve as a basis for further research in improving the effectiveness of project planning.